Michael Rapino is in the news as Live Nation faces major antitrust lawsuits, amid ongoing scrutiny of its monopoly power in the concert biz.
A coalition of over 30 U.S. states is challenging the settlement between the Justice Department and Live Nation over alleged anti-competitive practices. The federal government settled last week, but the states are pursuing their own legal action, questioning the company's market dominance and conduct in the live entertainment industry.
A federal jury has found Live Nation liable for monopolizing the concert industry and violating antitrust laws. The verdict follows a seven-week trial, with the jury determining that the company overcharged consumers and used its market dominance to benefit its own business. Judge Arun Subramanian will now decide on damages and remedies, including potential breakup or divestments.